Family situation

My mother and step-father are in a really rough financial spot. They over spent while the economy was good. They took fancy trips, bought investment property, an airplane, vacation homes, etc. they didn't save anything and now that the market is soft they have no money. The peak of this nonsense was probably when I was in high school-after I was married and had a child, maybe 2007?

Anyway, they are now looking at a potential bankruptcy. There's no money left and everything has been mortgaged to the max.

My mom has asked me to repay them for my college education and wedding. I guess they have kept tabs all along. I am the oldest and in the best financial place, but I'm the I only one that's been asked (there are 4 children in my family).

What should I do? What would you do? I can't cut them a 30000 or whatever check....an the airplanes etc weren't mine!

Comments (71)

My step-dad has never cared for me. He does prefer the boys. have never had a relationship with him, he was always working or too tired to deal with us. My sister is the same way, and she's his daughter. He's just never tried to have anything in common with us...he's ok with the hunting/motorcycle/guy stuff. I played tennis through college and he never came to match, but he never missed a football game.

My mom and I used to have an awesome relationship but its been stressed lately. I think he's been asking her to ask us for money for quite awhile. She's stuck in the middle and doesn't stand up for herself.

I have 3 girls now and he's not bothered to come to any of their things either :(. It's sad. He and my mom were married when I was 6 so it's not like he just met me during my awful teenage years. And I was a god kid too! Always tried hard to get good grades and do the right thing. I'm a pleaser personality so I don't like when people are upset with me.

You can't reclassify gifts as loans after the fact. Or, you can, but it's the height of douchebaggery and if you do it you shouldn't expect the person reclassified to be cutting checks and kissing ass.

FTS.

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"Releasing doves and a sushi station are not basic human rights." -- MollySaysWhat

My mom and I used to have an awesome relationship but its been stressed lately. I think he's been asking her to ask us for money for quite awhile. She's stuck in the middle and doesn't stand up for herself.

Wowza...i have a crazy behind family but gifts are gifts!! I would die if my family tried to do something like this to me. I would gladly cut off family that tries to fix their issues momentarily on MY FAMILYS money. No way in hell id give them a dime on any of those things!

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Ash and Clarence 08/08/2010

Welcomed Baby Logan 10/28/2010Welcomed Baby Kaleb 11/01/2012Goto get used to critters with a Team Blue Family!

$30K surely isn't a drop in the bucket to fix their problems. They have to know that the bankruptcy court isn't going to allow you to repay them and still walk away from their debt. It really sounds to me like an attempt to get some extra $ on the side and hide it from the bankruptcy court so they can continue to live beyond their means and won't have to drive a '78 Pinto. Ahem, fraud maybe. This is a clear case of double-dipping...they walk away from the debt and make 30K on you. No way in hell.

In one of my earlier posts I sounded maybe a little jealous of my brothers/sister...it wasn't meant to be like that. I was just trying to give an example of how things changed so quickly financially in our house. We were very middle class through when i went away to college and then it was crazy (late 90s-mid 2000s). I like the normal life we have :)